Barnes & Noble Education (BNED) Trading Up 7.7%

Barnes & Noble Education Inc (NYSE:BNED) traded up 7.7% during trading on Tuesday . The company traded as high as $8.63 and last traded at $8.42. 1,494,603 shares traded hands during mid-day trading, an increase of 342% from the average session volume of 338,245 shares. The stock had previously closed at $7.82.

A number of equities research analysts have recently commented on the company. BidaskClub downgraded Barnes & Noble Education from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 12th. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 price objective (down previously from $16.00) on shares of Barnes & Noble Education in a research report on Thursday, August 31st. Zacks Investment Research raised Barnes & Noble Education from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 8th. TheStreet downgraded Barnes & Noble Education from a “c-” rating to a “d+” rating in a research report on Wednesday, August 23rd. Finally, BWS Financial reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Barnes & Noble Education in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $10.92.

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.41 and a current ratio of 1.21. The stock has a market capitalization of $351.39, a PE ratio of 20.24, a PEG ratio of 0.75 and a beta of 1.14.

Barnes & Noble Education (NYSE:BNED) last posted its quarterly earnings results on Tuesday, December 5th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.12. Barnes & Noble Education had a return on equity of 2.52% and a net margin of 0.84%. The firm had revenue of $886.90 million during the quarter, compared to the consensus estimate of $868.17 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. analysts predict that Barnes & Noble Education Inc will post 0.5 EPS for the current year.

In other Barnes & Noble Education news, major shareholder Abrams Capital Management, L.P sold 1,039,022 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $7.82, for a total transaction of $8,125,152.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.46% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Vivaldi Asset Management LLC acquired a new position in shares of Barnes & Noble Education during the second quarter worth about $6,758,000. PDT Partners LLC acquired a new position in shares of Barnes & Noble Education during the second quarter worth about $752,000. Kennedy Capital Management Inc. acquired a new position in shares of Barnes & Noble Education during the second quarter worth about $1,816,000. TIAA CREF Investment Management LLC lifted its stake in shares of Barnes & Noble Education by 54.0% during the second quarter. TIAA CREF Investment Management LLC now owns 359,687 shares of the specialty retailer’s stock worth $3,823,000 after purchasing an additional 126,075 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Barnes & Noble Education by 5.3% during the second quarter. Vanguard Group Inc. now owns 3,391,895 shares of the specialty retailer’s stock worth $36,055,000 after purchasing an additional 171,391 shares in the last quarter. Institutional investors own 67.14% of the company’s stock.

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Barnes & Noble Education Company Profile

Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.

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